Lannett Company Inc. (fka LCINQ)

[RizZo]

Lannett Company (LCI) Stock Climbs On Distribution Agreement

Lannett Company, Inc. (NYSE: LCI) is making a run for the top in the market this morning, even while the overall market is trading in the red. The gains come after the company announced that it has entered into an exclusive distribution agreement. Here’s what’s going on:


LCI Stock Pops On Exclusive Distribution Agreement

In the press release issued this morning, Lannett Company said that it has entered into an interim exclusive supply and distribution agreement with Cediprof. The agreement surrounds Cediprof’s FDA approved Levotheyroxine Sodium Tablets USP.

In the release, LCI said that the interim supply agreement with terminate on July 31, 2022. Following the termination of the interim agreement, the 10-year exclusive supply and distribution agreement will begin.

In the 12 months ending May 2020, the sales of the drug led to approximately $2.3 billion in revenue. This suggests that this manufacturing agreement has the potential to be an incredibly profitable one.


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